ENP Newswire - 05 August 2014
Release date- 04082014 - Mumbai: Mahindra Conveyor Systems Private Limited (MCS), a leading supplier of Material Handling Equipment and Systems, and a part of Mahindra Partners Division of the USD 16.5 billionMahindra Group today announced that it has strengthened its partnership with Tsubaki Group, Japan.
Tsubaki and MCS already have an existing tie-up for technical know-how and Tsubaki has now gained majority (51%) holding in MCS, to assist it in making inroads into new markets in Asia, Africa, the Middle East and Europe. MCS will be renamed as Mahindra Tsubaki Conveyor Systems Pvt. Ltd.
Zhooben Bhiwandiwala, Executive Vice-President & Managing Partner - Mahindra Partners Division, Mahindra & Mahindra Ltd. and Mr. Isamu Osa, President, Tsubakimoto Chain Co., Japan signed the JV agreement recently in Osaka, Japan. Mr. Yohei Kataoka Sr. Advisor, Tsubakimoto Chain Co. and Mr. Bhiwandiwala formally announced the changes to the partnership at MCS's factory in Pirangut near Pune on 1st Aug 2014.
'Our partnership with Tsubaki in MCS is an opportunity to service our customers more efficiently and brings together talented technical and management teams. We are excited about MCS' future in this new combination and look forward to working together on its growth and value creation,' said Mr. Bhiwandiwala.
'We are delighted to extend our long and enduring partnership with Mahindra Conveyor Systems which has emerged as a complete solution provider for Material Handling Systems for the Cement, Power, Chemicals, Mineral Processing and Auto sectors. The JV will now enable us to carry out large scale manufacturing and sale of Unit Handling Systems for supplies not only in India but to markets in Asia, Africa, the Middle East and Europe. We will also actively invest in people and technology for growth of the JV,' said Mr. Kataoka.
'Our relationship with the Tsubaki Group spans over two decades and this JV will see our partnership enter a new phase. Tsubaki supplies equipment to a variety of users from manufacturing plants, warehouses and research facilities across a very wide spectrum of industries including automotive, steel, appliances, beverage, IT, pharmaceutical, etc. The company will now bring this expertise to the JV which will immensely benefit our Indian customers,' said Mr. Ravindra Vaidya who has now been elevated to the post of Managing Director of MCS.
MCS specialises in supply of Bulk Material Handling Equipment and Systems to cement and other process industries. The company has recently diversified into supply of Unit Handling Systems comprising of conveyors for auto and auto component manufacturing. This includes highly advanced conveyor systems for Paint Shop, Vehicle Assembly and other requirements.
Tsubakimoto Chain, or Tsubaki, is a Japanese company founded in 1917 and will be celebrating its 100th anniversary in just three years' time. Annual sales for FYE2014 was 178 billion yen or US$1.7 billion. Tsubaki's main business divisions are Chain, PTUC (Power Transmission Units and Components), Automotive Parts and Material Handling Operations.